Petrol, diesel prices hiked again

  • Petrol, diesel prices hiked again

Petrol, diesel prices hiked again

Petrol in Mumbai today has reached Rs 91.07 per litre, which is just 27 paise less than the record price of Rs 91.34 on October 4, 2018.

Petrol and diesel prices were hiked up to 25 paise across the major cities in the country on Wednesday (January 13) after a hiatus of around a week.

In India, petrol rates per litre were hiked by 25 paise on Wednesday to Rs 84.45 in New Delhi, Rs 91.07 in Mumbai, Rs 85.92 in Kolkata and Rs 87.18 in Chennai. For petrol, it is Rs 86.48. This took the cost of petrol in the Capital to Rs 84.45 per litre. After this, petrol reached a new record level of Rs 84.45 in Delhi today. The petrol price was higher than this level over four and a half years ago, i.e. on September 14, 2013, when the price had surged past Rs. 76. Diesel increased to Rs 74.63 per litre. The highest rate for petrol in Mumbai was recorded on October 4, 2018, when it was Rs 91.34.

US West Texas Intermediate (WTI) was up 1.3 per cent at $53.88 a barrel. Following this, rates rose on two consecutive days before they hit a pause button again.

The rise in fuel prices was caused by the latest jump in the crude oil prices, with Brent crude trading above $57 per barrel, due to decline of stockpiles in the US. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.

Though petrol and diesel rates are to be revised on a daily basis in line with benchmark global price and foreign exchange, government-controlled fuel retailers have been moderating rates since the pandemic broke out.

On Wednesday, fuel prices in India were raised to new highs as global oil prices continued to surge for the seventh straight day. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives.